This nefarious logic has been used for 50 years to justify ever worse austerity and tax breaks for the wealthy. And look at the situation today: pedophile oligarchs rule the world while we fight for scraps. The West has no future, unless we start aggressively redistributing wealth.
Hasn't a rich oligarchy been the status quo for most of humanity? It seems to me most of humanity has had quite a future to look forward to, historically speaking.
I'd be reluctant to call the lords from the feudal system "oligarchs". Really, the people currently called such could only exist in a globalized economy.
But anyway, oligarchs weren't this powerful in the mid-century. FDR's New Deal was successful in bringing down the Robber Barons and ushering in America's golden age. Coincidentally, things started to go to shit with the introduction of Reaganomics and the promise that letting a few private individuals concentrate more and more wealth would be beneficial to the economy.
